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- All HBS Web
(1,932)
- Faculty Publications (164)
- 2010
- Working Paper
Valuation When Cash Flow Forecasts Are Biased
This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside.... View Details
Keywords: Forecasting and Prediction; Cash Flow; Cost of Capital; Performance Expectations; Prejudice and Bias; Valuation
Ruback, Richard S. "Valuation When Cash Flow Forecasts Are Biased." Harvard Business School Working Paper, No. 11-036, October 2010.
- June 2010
- Article
Change for Change's Sake
By: Freek Vermeulen, Phanish Puranam and Ranjay Gulati
No one disputes that firms have to make organizational changes when the business environment demands them. But the idea that a firm might want change for its own sake often provokes skepticism. Why inflict all that pain if you don't have to? That is a dangerous... View Details
Keywords: Interpersonal Communication; Innovation and Invention; Leading Change; Organizational Change and Adaptation; Organizational Structure; Creativity; Power and Influence; Adaptation
Vermeulen, Freek, Phanish Puranam, and Ranjay Gulati. "Change for Change's Sake." Harvard Business Review 88, no. 6 (June 2010).
- 2010
- Working Paper
Accelerating Energy Innovation: Insights from Multiple Sectors
By: Rebecca Henderson and Richard G. Newell
A combination of concerns about climate change and energy security has recently led to significant increases in public funding for energy R&D. Some commentators are suggesting that these increases need to be sustained, and are advocating for increases of as much as... View Details
Keywords: Innovation and Management; Technological Innovation; Knowledge Use and Leverage; Research and Development; Pollutants; Climate Change; Energy Industry
Henderson, Rebecca, and Richard G. Newell. "Accelerating Energy Innovation: Insights from Multiple Sectors." Harvard Business School Working Paper, No. 10-067, February 2010. (Revised February 2011.)
- December 2009
- Article
Negotiation? Auction? A Deal Maker's Guide
What's the best way to buy or sell an asset? Should you hold an auction and accept the most attractive offer? Or should you identify the most likely prospects and negotiate with them privately? Auctions became increasingly popular after the internet opened wide the... View Details
Keywords: Assets; Auctions; Market Transactions; Negotiation; Strategy; Decision Choices and Conditions
Subramanian, Guhan. "Negotiation? Auction? A Deal Maker's Guide." Harvard Business Review 87, no. 12 (December 2009).
- November 2009
- Article
Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry
Many companies operate units that are dispersed across different types of markets, and thus serve significantly diverging customer bases. Such market-type dispersion is likely to compromise the headquarter's ability to control its local managers' behavior and satisfy... View Details
Keywords: Market Dispersion; Decentralization; Incentives; Business Headquarters; Geographic Location; Governance Controls; Distribution; Organizational Design; Franchise Ownership; Retail Industry
Campbell, Dennis, Srikant M. Datar, and Tatiana Sandino. "Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry." Accounting Review 84, no. 6 (November 2009): 1749–1779.
- 2009
- Other Unpublished Work
Choice-based Measures of Conflict in Preferences
By: Katherine Baldiga and Jerry R. Green
We propose a family of measures of difference between ordinal preference relations. The difference between two preferences is the probability that they would disagree about the optimal choice from a random available set. It is in this sense that these measures are... View Details
- June 2009
- Article
Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals
By: Katherine L. Milkman, Todd Rogers and Max H. Bazerman
We report on a field study demonstrating systematic differences between the preferences people anticipate they will have over a series of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the... View Details
Keywords: Decision Choices and Conditions; Forecasting and Prediction; Film Entertainment; Demand and Consumers; Renting or Rental; Power and Influence; Prejudice and Bias; Online Technology; Motion Pictures and Video Industry
Milkman, Katherine L., Todd Rogers, and Max H. Bazerman. "Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals." Management Science 55, no. 6 (June 2009): 1047–1059.
- March 2009
- Journal Article
Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market
By: Boris Groysberg, Ashish Nanda and M. Julia Prats
Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over... View Details
Keywords: Entrepreneurship; Investment Banking; Retention; Human Capital; Performance Effectiveness; Banking Industry
Groysberg, Boris, Ashish Nanda, and M. Julia Prats. "Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market." Journal of Financial Transformation 25 (March 2009): 95–106.
- November 2008
- Article
Winning the Race for Talent in Emerging Markets
By: Douglas A. Ready, Linda A. Hill and Jay A. Conger
"This war for talent is like nothing we've ever seen before," write the authors, who have spent decades studying talent management and leadership development. Recently they interviewed executives at more than 20 global companies to identify strategies for attracting... View Details
Keywords: Leadership Development; Selection and Staffing; Talent and Talent Management; Multinational Firms and Management; Organizational Culture; Recruitment; Diversity; Developing Countries and Economies
Ready, Douglas A., Linda A. Hill, and Jay A. Conger. "Winning the Race for Talent in Emerging Markets." R0811C. Harvard Business Review 86, no. 11 (November 2008).
- September 2008
- Article
Firm Heterogeneity and Credit Risk Diversification
By: Samuel G. Hanson, M. Hashem Pesaran and Til Schuermann
This paper examines the impact of neglected heterogeneity on credit risk. We show that neglecting heterogeneity in firm returns and/or default thresholds leads to under estimation of expected losses (EL), and its effect on portfolio risk is ambiguous. Once EL is... View Details
Keywords: Volatility; Credit; Investment Return; Outcome or Result; Risk and Uncertainty; Loss; Diversification; Complexity; United States
Hanson, Samuel G., M. Hashem Pesaran, and Til Schuermann. "Firm Heterogeneity and Credit Risk Diversification." Journal of Empirical Finance 15, no. 4 (September 2008): 583–612.
- 2008
- Working Paper
Communication (and Coordination?) in a Modern, Complex Organization
By: Adam M. Kleinbaum, Toby E. Stuart and Michael L. Tushman
This is a descriptive study of the structure of communications in a modern organization. We analyze a dataset with millions of electronic mail messages, calendar meetings and teleconferences for many thousands of employees of a single, multidivisional firm during a... View Details
Keywords: Business Conglomerates; Interpersonal Communication; Organizational Structure; Social Issues; Boundaries
Kleinbaum, Adam M., Toby E. Stuart, and Michael L. Tushman. "Communication (and Coordination?) in a Modern, Complex Organization." Harvard Business School Working Paper, No. 09-004, July 2008.
- April 2008
- Journal Article
Heart of Darkness: Business Tokens of the Congo (Part 1)
By: Louis T. Wells
Few numismatic fields are as unexplored as the tokens of what was once the Belgian Congo. Although the head (and “extra-wife”) tokens have been thoroughly cataloged, I have found only one very early and incomplete attempt, by Mahieu in the 1920s, to report other tokens... View Details
- 2008
- Working Paper
Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry
By: Dennis Campbell
Many companies operate units which are dispersed across different types of markets, and thus serve significantly diverging customer bases. Such market-type dispersion is likely to compromise the headquarters' ability to control its local managers' behavior and... View Details
Keywords: Business Headquarters; Customer Focus and Relationships; Geographic Location; Governance Controls; Organizational Design; Franchise Ownership; Retail Industry
Campbell, Dennis. "Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry." Harvard Business School Working Paper, No. 08-091, April 2008.
- March 2008 (Revised February 2009)
- Case
Transparent Value LLC
By: Sharon P. Katz, Krishna G. Palepu and Aldo Sesia, Jr.
Leading index company Dow Jones recently signed a license and joint marketing agreement with Transparent Value LLC, the creator of a new fundamentals-based valuation methodology. The agreement allowed Dow Jones to offer a family of indexes based on the Transparent... View Details
Keywords: Asset Management; Stocks; Price; Performance Expectations; Mathematical Methods; Valuation
Katz, Sharon P., Krishna G. Palepu, and Aldo Sesia, Jr. "Transparent Value LLC." Harvard Business School Case 108-069, March 2008. (Revised February 2009.)
- March – April 2008
- Article
Interorganizational Trust, Governance Choice, and Exchange Performance
By: Ranjay Gulati and Jackson Nickerson
This paper looks at when and how preexisting interorganizational trust influences the choice of governance and in turn the performance of exchange relationships. We theorize that preexisting interorganizational trust complements the choice of governance mode (make,... View Details
Keywords: Corporate Governance; Organizational Culture; Performance Improvement; Conflict and Resolution; Trust
Gulati, Ranjay, and Jackson Nickerson. "Interorganizational Trust, Governance Choice, and Exchange Performance." Organization Science 19, no. 2 (March–April 2008): 1–21.
- January 2009
- Article
Bank Debt and Corporate Governance
By: Victoria Ivashina, Vinay Nair, Anthony Saunders, Nadia Massoud and Roger Stover
In this paper, we investigate the disciplining role of banks and bank debt in the market for corporate control. We find that relationship bank lending intensity and bank client network have positive effects on the probability of a borrowing firm becoming a target. This... View Details
Keywords: Corporate Governance; Borrowing and Debt; Banks and Banking; Business and Stakeholder Relations; Governance Controls; Managerial Roles
Ivashina, Victoria, Vinay Nair, Anthony Saunders, Nadia Massoud, and Roger Stover. "Bank Debt and Corporate Governance." Review of Financial Studies 22, no. 1 (January 2009): 41–77.
- 2007
- Working Paper
Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals
By: Katherine L. Milkman, Todd Rogers and Max H. Bazerman
We report on a field study demonstrating systematic differences between the preferences people anticipate they will have over a series of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the... View Details
Keywords: Internet and the Web; Decision Choices and Conditions; Attitudes; Conflict and Resolution; Emotions; Film Entertainment; Cognition and Thinking; Entertainment and Recreation Industry
Milkman, Katherine L., Todd Rogers, and Max H. Bazerman. "Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals." Harvard Business School Working Paper, No. 07-099, June 2007. (Revised July 2007, December 2007, April 2008, September 2008, January 2009.)
- August 2006
- Article
Confidence Intervals for Probabilities of Default
By: Samuel G. Hanson and Til Schuermann
In this paper we conduct a systematic comparison of confidence intervals around estimated probabilities of default (PD) using several analytical approaches as well as parametric and nonparametric bootstrap methods. We do so for two different PD estimation... View Details
Hanson, Samuel G., and Til Schuermann. "Confidence Intervals for Probabilities of Default." Journal of Banking & Finance 30, no. 8 (August 2006).
- January 2006 (Revised July 2006)
- Case
Drug Testing in Nigeria (A)
By: Debora L. Spar
In 1996, a meningitis epidemic swept across Nigeria. Thousands of children were struck and, lacking appropriate medicine, were liable to die from the disease. Doctors at Pfizer had an antibiotic that could probably save most of these children's lives. The drug was new,... View Details
Keywords: Risk and Uncertainty; Health Pandemics; Health Testing and Trials; Developing Countries and Economies; Pharmaceutical Industry; Nigeria
Spar, Debora L., and Adam Day. "Drug Testing in Nigeria (A)." Harvard Business School Case 706-033, January 2006. (Revised July 2006.)
- Article
Policy Implications of Weak Patent Rights
By: James J. Anton, Hillary Greene and Dennis Yao
Patents vary substantially in the degree of protection provided against unauthorized imitation. In this chapter we explore a range of work addressing the economic and policy implications of "weak" patents—patents that have a significant probability of being overturned... View Details
Keywords: Patents; Motivation and Incentives; Entrepreneurship; Competition; Policy; Innovation and Invention; Rights; Monopoly; Business Startups
Anton, James J., Hillary Greene, and Dennis Yao. "Policy Implications of Weak Patent Rights." Innovation Policy and the Economy 6 (2006): 1–26. (Harvard users click here for full text.)